Executive Compensation and Deployment of Corporate Resources: Evidence from Working Capital Available to Purchase

We are grateful to Stefano Bonini, Elif Sisli Ciamarra, Dudley Evan, Mara Faccio, Andrey Golubov, Alexander Kempf, Peter Limbach, Christodoulos Louca, Garen Markarian, Nickolaos Travlos, Ioannis Tsalavoutas, and seminar and conference participants at Bilkent University, University of Cologne, University of Glasgow, Karlsruhe Institute of Technology,MFS Symposium 2015 in Larnaca, Paris December 2015 Finance Meeting, FMA Annual Meeting 2015 in Orlando, MFA Europe Meeting 2016 in Helsinki and SGF Meeting 2016 in Zurich for helpful comments and suggestions. All remaining errors are our own. This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.